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Home / Opinion Digests / Business Law / 4th Cir.: Economic loss rule erases conversion win (access required)

4th Cir.: Economic loss rule erases conversion win (access required)

A defendant on the hook for almost $2 million in compensatory and punitive damages for conversion is entitled to judgment as a matter of law, since the plaintiffs’ conversion claim was based entirely on losses covered by the parties’ contract. Associated attorneys’ fees must also be reassessed. Background Cadrillion LLC purchased a subsidiary of Georgia company Legacy ...